Tether Rides Out Stablecoin Slowdown with Record Q2 Profit

Tether's Q2 2026 profit reached $1.5 billion as the company continued to expand its reserve surplus and physical gold holdings, despite a slowdown in the stablecoin market.

The largest stablecoin issuer by market share increased USDT supply, with approximately $184.6 billion worth of USDT in circulation as of June 30, a growth of $446 million from the previous quarter.

This pushed USDT to more than 60% of the global stablecoin market, despite an overall decline in total stablecoin market capitalization during the same period.